Everyone’s journey to retirement is different. The same can be said about their decision on when to retire, and in turn, the dollar amount they’ll get from Social Security every month.
However, many people wonder what the average Social Security benefit is. How about for age 67? This is the full retirement age (FRA) for those born in or after 1960.
According to The Motley Fool, the average monthly benefit for this age is $1,845. For reference, this is about 50 percent higher than the average benefit for those who claim at age 62. Is it worth waiting to claim at this age? Could you live off this amount, or would you supplement your retirement income with other sources?
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